AvidXchange

NOVEMBER 18, 2020

As 2020 comes to a close, it’s time to build on all we learned and look forward to coming out stronger than ever in 2021. In 2021 integration of these systems for faster and easier connectivity will be – for certain – a high priority throughout the accounts payable software market. That complexity impairs productivity.

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Accounts Payable Accounts Payable AP Accounting 52

MineralTree

DECEMBER 15, 2022

In any organization, the accounts payable (AP) department is responsible for handling and processing payments. What is Compliance in Accounts Payable? Compliance in accounts payable refers to the practice of following laws, regulations, and standards related to handling payments. Let’s take a closer look.

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Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

OCTOBER 19, 2021

Success can be tricky to define, especially in financial functions including accounts payable (AP) departments. Accounts payable success is largely tied to hard numbers — invoices processed per month, cost per invoice, outstanding payments, turnover ratio, etc. But true success goes beyond the metrics.

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Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

DECEMBER 20, 2024

Creating 1099 reporting is one task that can take less time with accounts payable (AP) automation. The 1099-NEC form replaced a section ofthe 1099-MISCform in 2020 for non-employee compensation, according to TurboTax. Tax season is a busy time for finance departments. Learn More About AP Automation What is a 1099?

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AP Data Entry Accounts Payable Accounts Payable 52

AvidXchange

JULY 21, 2021

As a controller or accounts payable (AP) manager, you can use more than a dozen key accounts payable performance indicators (KPIs) to track the performance of your AP systems. What are Accounts Payable Metrics? We’re going to dive in to these three accounts payable KPIs in more detail.

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Accounts Payable Accounts Payable AP Invoicing 52

Nanonets

SEPTEMBER 21, 2023

As a business owner, understanding  account payable turnover  is vital for effective  financial management  and evaluating your company's  liquidity performance. The ratio can be calculated by dividing  net credit purchases  by the  average accounts payable balance.

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Accounts Payable Accounts Payable Accounting Accounting 40

AvidXchange

FEBRUARY 11, 2022

The advertising industry was hit hard by the pandemic, down more than $20 billion in 2020 , according to Statista. The strain impacts nearly every role across agencies, from creative to those who handle accounts payables (AP) and payments. After a swift recovery, it’s predicted to experience exponential growth in 2022.

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Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

SEPTEMBER 29, 2021

You may not expect mythology to have any relevance in the numbers-driven, here-and-now world of accounts payable software and services. More than 80 percent of organizations reported being targets of an attempted or actual payments fraud attack in 2020, the second highest percentage on record since 2009.

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AvidXchange

JANUARY 24, 2023

In the first episode of the “Net 30” podcast by the AvidXchange Podcast Network , host Chris Elmore sat down with Rhonda Greene and Gary Larson to discuss the future of accounts payable (AP). of all accounts payable associates are women 71.3% of all accounts payable leads are women 76.0%

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Accounts Payable Accounts Payable AP Accounting 52

Nanonets

AUGUST 17, 2023

The Accounts Payable (AP) department is responsible for the procure-to-pay process of any well-organized company and deals with the entire purchasing workflow, starting from Purchase Order (PO) processing to final payment to vendors. per invoice for the highest process maturity level. per invoice.

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AvidXchange

FEBRUARY 7, 2022

The industry recovered well from the 2020 recession and is more readily embracing technology to enhance productivity and provide a competitive advantage. An analysis of 1,200 companies globally that were hit by cyber extortion between 2020 and 2021 revealed those parts of the market where ransomware is the most widespread.

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AvidXchange

DECEMBER 15, 2020

Historians will undoubtedly look back on 2020 as a turning point in world history. 2020 will also be remembered by business historians, and finance professionals such as yourself, as a turning point in the fintech industry. The survey also found 74 percent used an automated AP software system in 2020.

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AvidXchange

MARCH 6, 2018

Accounts payable fraud is a major problem. They’re taking advantage of the Digital Era’s easy access to private accounts and information in malicious ways that are easily overlooked. But as technology evolves, accounts payable automation (AP automation) is making it hard to crack the code to fraudulent AP attempts.

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Accounts Payable Accounts Payable Accounting Accounting 40

AvidXchange

JULY 14, 2022

James McHale, CFO of LAFCU, Shares How AvidXchange Helped Create Efficiencies from Purchase to Pay Since 2020, James McHale has served as LAFCU’s Chief Financial Officer. READ THE BLOG The post Here’s How a Leading Credit Union Streamlined Accounts Payable Processes and Divorced Paper appeared first on AvidXchange.

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AvidXchange

MARCH 3, 2021

However, thousands of companies still use overly complex manual accounts payable processes. Those facts are the key findings from IDC and PYMNTS.com surveys focused on the accounts payable (AP) market. Read more: Is Paperless Accounts Payable Right for Your Business? What do all these stats mean?

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Accounts Payable Accounts Payable AP Accounting 40

AvidXchange

FEBRUARY 9, 2022

The pandemic fundamentally shook accounts payable (AP) departments in real estate — forcing remote work and, in turn, accelerating the adoption of AP automation. As teams digitize accounts payables, they can better analyze spend and more accurately budget and forecast for the future.

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Accounts Payable Accounts Payable AP Accounting 52

AvidXchange

FEBRUARY 11, 2022

Banks’ accounts payable (AP) departments are starting to look a lot different. Since 2020, many banks and credit unions have begun to more readily embrace modernization to reap its benefits. Not only did tech ensure the continuation of mission-critical processes without costly delays, it also revealed exciting opportunities.

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AvidXchange

JANUARY 1, 2021

As the new year kicks off, many of us feel a renewed sense of optimism and anticipation for the possibility of what lies ahead as we leave behind a tumultuous 2020 and start fresh in 2021. Automating accounts payable processes and payments can help you gain more efficiency, visibility and control over your cashflows.

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AvidXchange

JANUARY 12, 2021

Well, there’s also a new kind of class we’ve created exclusively for you titled “ Mastering Fundamentals of Accounts Payable Automation ,” an 11 chapter, up-to-date, comprehensive AP automation guide. You’ve probably heard about a popular new wave of online education called MasterClass. Learn why that’s not the case.

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AP Accounts Payable Accounts Payable Accounting 40

AvidXchange

AUGUST 31, 2020

While making these adjustments, many have been grappling with an important decision: whether to continue using a manual paper process to execute their accounts payable (AP) processes or shift to a paperless AP system. As such, going paperless could be an urgent matter for your business. “In Because it is.

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Accounts Payable Accounts Payable AP Invoicing 40

AvidXchange

MARCH 30, 2023

Products Used: AvidInvoice and AvidPay Industry: Real Estate Year Joined: 2020 Accounting System: Yardi Voyager 7s Customer Name: David Bennett Bio: David Bennett is the senior accounts payable manager at Remedy. Several hours a day were spent opening mail, scanning invoices and filing and stuffing checks into envelopes.

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AP Accounts Payable Accounts Payable Data Entry 52

AvidXchange

FEBRUARY 10, 2021

Chamber of Commerce Commercial Construction Index report focused on the fourth quarter of 2020. Here’s a summary of the key findings: Construction Industry Challenges Moving Into 2021 Project delays In 2020, nearly all contractors (83 percent) experienced project delays due to the pandemic.

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Accounts Payable Accounts Payable Accounting Accounting 52

AvidXchange

OCTOBER 1, 2024

AvidXchange allowed Speedway Motorsports to make its accounts payable (AP) process more efficient across locations. • Creating an environment where your team can give constructive and respectful feedback can help you grow as a leader. And just prior to COVID was when we were looking at the accounts payable process.

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MineralTree

APRIL 20, 2023

Since becoming a MineralTree customer back in 2020, MTB has grown from eight to 12 locations and deployed MineralTree’s TotalAP platform across all of its 12 Taco Bell quick-service restaurants (QSRs). Once a payment is made, MineralTree syncs with MTB’s QuickBooks Desktop accounting system to close the loop.

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AP QuickBooks Vendor Management Invoicing 77

NextProcess

NOVEMBER 8, 2024

accounts payable, expense reporting) and data more secure by following cybersecurity best practices and using secure business software. The Verizon Business 2020 Data Breach Investigations Report showed that small businesses were the target of 28% of data breaches for that year. Lets consider, for example, accounts payable.

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NextProcess

MARCH 31, 2023

If the head of your accounts payable department moved on to a new position tomorrow, could anyone step in to fill their job? Keeping the finance department, including accounts payable, running smoothly is essential for overall business success.

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AP Accounts Payable Accounts Payable Invoicing 52

AvidXchange

MARCH 15, 2022

Your customers might be hiring automated accounts payable (AP) software providers, for example, to handle your invoices and payments for them. You may have noticed several new methods for vendor payments in your role as a business owner. Like anything new, it may take a while to get used to this.

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AvidXchange

APRIL 18, 2022

In the first quarter of 2020, spending on financial services was 6.4% above our December 2017 benchmark, which was when we started tracking middle market spending. Since early 2020, spending increased each quarter and peaked at 18% above our benchmark following Q1 2021. Then spending fell each of the next three quarters to 13.4%

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AvidXchange

JULY 14, 2022

During the past few years, Providence Management searched for the best automated accounts payable (AP) software to process its payments. So in 2020 the company switched back to using AvidPay. But in 2017 the company switched to another software provider for AP processing — yet discovered the new plan wasn’t panning out.

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AvidXchange

JANUARY 5, 2021

With 2020 behind us, businesses in the technology market have shifted their attention to the new growth opportunities they’ll be able to capitalize on in 2021. Our company helps thousands of companies automate accounts payable (AP) transactions and process more than 12 million payments annually across the AvidPay Network.

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AvidXchange

OCTOBER 26, 2020

Almost everything in the year 2020 has been – and will continue to be – about changes and abnormalities. That includes using the power of accounts payable (AP) automation software to help make your year-end process faster and easier. The data there should be consolidated and updated often and rapidly.

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AvidXchange

OCTOBER 11, 2022

The challenge: High turnover rate and long approval process The accounts payable (AP) department of Saban Community Clinic struggled to retain qualified healthcare AP workers, making it difficult to maintain business continuity and process invoices and payments on time.

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AP Accounts Payable Accounts Payable Invoicing 52

NextProcess

JANUARY 6, 2025

updating accounts payable, then purchasing, etc. After years of work-from-home following COVID-19 shutdowns starting in 2020, more and more companies are instituting mandatory in-office days for employees. A phased approach to switching over to cloud processing often works well (e.g.

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AvidXchange

JANUARY 11, 2023

Hampton Golf chief financial officer (CFO) shares how AvidStrongroom and AvidPay for QuickBooks Enterprise modernize accounts payable Dede Franklin joined Hampton Golf as the CFO in 2020. Prior to experiencing AvidStrongroom and AvidPay, Franklin spent her days managing the arduous work of manual accounts payable (AP).

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Nanonets

APRIL 16, 2023

Even in departments where there is the digitization of information in the form of Enterprise Resource Planning (ERP) applications, a significant amount of human labour is required; from the time an invoice is raised or received to its entry into the ERP application, accounts payable personnel perform a seemingly endless list of chores. ·

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Nanonets

JANUARY 1, 2024

What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor. It is to be noted that a statutorily ordained Account Payable Audit has to be undertaken only by external auditors.

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AvidXchange

NOVEMBER 10, 2021

Soon after the pandemic started in the United States in 2020, many businesses rapidly sent their employees to work at home. However, they realized they had to adapt quickly by starting to use easily integrated, second-layer technologies such as accounts payable (AP) automation software to keep operations going with remote workforces.

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